With so many cryptocurrencies emerging every other day, you must be wondering about the Litecoins. What is Litecoin? Litecoin is a decentralized online currency which was created in October of 2011. You can use the Litecoin in terms to purchase the services, be it the website development, or buying goods online (such as jewelry or tea).
Litecoin provides a simpler and easier way for the merchants to accept money. Since there are no fees to receive payments, neither any charge-backs. Every transaction of Litecoin is recorded on a public ledger that is the blockchain. So you don’t need to worry about payments as they are easily verified. Litecoin works using secure software, which will allow you to make payments as easily as sending an email.
Now you are aware of the Litecoins, but what wallets should you go for, in terms to store your Litecoin for a longer term, or to just send and receive litecoins? No need to worry, we have got it covered for you.
Wallets to store Litecoin:
Below are mentioned the wallets that you can use with regards to store your Litecoin funds for a longer period of time as an investment.
Litecoin Core, a desktop wallet for the Litecoins, and is also at times regarded as the official wallet for storing the Litecoins. Its significance can be understood as it features on the Litecoin website as the Litecoin Wallet. Which makes it by far one among the best possible options for Litecoin holders.
The best thing about Litecoin Core is its user-friendly usage and the liberty of free download. You can make your very own desktop, your Litecoin wallet. Another pro is the cross-platform availability and how it provides the freedom of usage.
Nothing’s perfect, however, as Litecoin Core, doesn’t come with support for mobiles.
Ledger Nano S, is a hardware wallet, that you can use with the intent of storing cryptocurrencies. And it is the most favorite among the users, as it ensures safety and guarantees you of that. Features that Ledger Nano S offers to the users is it allows tracking of funds and restoring them if anything goes wrong. Also, it supports storing multiple cryptocurrencies, which allows you to store more than one cryptocurrency in your wallet. It is a hardware that can even store your Litecoins when offline. And since it can be plugged out, it eliminated the chances of hacker attacks.
The initial cost of Ledger Nano S is $65.00 and is the securest wallet option for Litecoin holders. Which makes it a popular choice as compared to other categories of wallets.
LoafWallet is probably the first iOS-only mobile wallet to be launched. With offering its use, and services to the iOS users only. There has been news, recently of them having started the Beta testing for the Android version as well. So Android users, stay tuned as there may be the news about the release very soon. The brains behind the LoafWallet is the very brain that created Litecoin, Charlie Lee and now its runs by a group of volunteers.
The only demerit of LoafWallet is the limitation to iOS platform and the uncertainty of Android version of LoafWallet. Which restricts its reach and service provision to the Android, however, it offers to restore funds.
Jaxx is a blockchain wallet, that can support up to 13 cryptocurrencies and Litecoin being the one among them. A 12-word backup seed key feat allows you the restoration of funds. Coming to the interface, it is a major plus as it provides an easier understanding of the interface. You won’t feel and obstacles in your way when acquainting yourself to the Jaxx.
A built-in feature makes possible the exchange among users with two different cryptocurrencies. This wallet can be accessed via your tablet or mobile with an iOS platform from anywhere.
LiteAddress is a paper wallet option for the users. It is best when working with huge numbers of Litecoins and it makes possible the long-term storage of Litecoins, with maximum security. To get your hands on the LiteAddress, simply visit the website and signup. You will be provided with a Private and a public key printed on a paper. With its copies stored separately at different places.
In case you lose possession of your Private Key all the data, all the funds are gone for good. So be careful with the keys you have been allotted. But LiteAddress is less expensive as compared to its competitors and it is not hackable.
Not only the above mentioned, but there are other good wallets such as the Exodus (I personally have used it, It has a very good design and usability) and many other wallets that can allow you to store your Litecoins. However, the above-listed wallets are best among the Litecoin storing and security. So now we have made it easier for you, all you got to do is make up your mind and go with one of the above-mentioned wallets.
About Litecoin, you can say without any doubts, it is another gateway to the future, of money transfer and currency exchanges. So play your part in this regards, make your Litecoin Wallet choice wisely and carefully. As it means to last for a longer term, and requires a good lot of thinking before a decision is taken.